Report: Ford Eyes Takeover of BMW
MUNICH, Germany (AP) _ Ford Motor Co. has been talking to BMW about possibly taking over the luxury Munich-based automaker, a newspaper reports.
Citing sources at BMW, Welt am Sonntag, in a story to be published Sunday, reports that middlemen below the highest corporate levels from the companies have been talking for three months.
Volkswagen and General Motors Corp. have also renewed their interest in taking over BMW since the Munich-based luxury automaker decided to get rid of its loss-making British Rover unit, Welt am Sonntag said.
BMW announced last week that it will sell the Land Rover division to Ford for $2.91 billion, while British investment group Alchemy Partners Ltd. has agreed to take over the MG and Rover passenger car divisions.